Rate Article:

Bank Muscat on Monday completed a 75 million-riyal (Dh713.06 million) private placement transaction with International Finance Corporation (IFC), a member of the World Bank Group, and IFC Capitalisation Fund.

The private placement amounting to 5.28 per cent shareholding stems from the bank’s overall capital augmentation plan, which will be utilised to further grow the capital base and enhance access to finance for small and medium enterprises and women entrepreneurs.